YouGov Acquires Analytics Company As US Growth Continues
YouGov has acquired US-based survey data management company KnowledgeHound, extending its data capabilities in the fast-growing market.
The market research and data analytics specialist told investors on Monday the deal, which was for an unspecified sum, will expand the capabilities of analytics platform, YouGov Crunch.
YouGov has been rapidly expanding its operation in the US through takeovers of this kind, with the firm even reportedly considering an alternative listing in the country.
The market research and data analytics specialist said that the acquisition - for an unspecified sum - will extend the capabilities of analytics platform, YouGov Crunch
Founded in 2014, Chicago-based KnowledgeHound is a software as a service company, which connects structured data from different systems and puts them together in one place.
KnowledgeHound mostly works with Fortune 500 companies across the FMCG, pharmaceutical, technology, insurance, and media industries,
Alex McIntosh, chief financial officer of YouGov Chief, said: 'YouGov's acquisition of KnowledgeHound represents a significant shift in what the industry should expect from data analytics platforms.
'By adding KnowledgeHound - a leading search-based survey data analysis solution - to YouGov Crunch - the ultimate tool for granular data analysis - we will make it easier than ever before to get fast, actionable, reliable insights all in one place.'
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Laura Baker, chief executive officer of KnowledgeHound, added: 'I am thrilled for this next stage of KnowledgeHound's journey, as the combined capabilities and teams from KnowledgeHound and YouGov Crunch enables us to, together, truly deliver the cutting edge, scalable solution the market actually needs.'
YouGov's pre-tax profits rocketed 77 per cent to £44.7million for the year ending July 2023, following solid turnover growth across all regions.
Revenues rose 17 per cent to £258.3million as solid sales of its syndicated data products boosted revenues in the US, YouGov's largest market, as well as the UK and mainland Europe.
In November, it was reported that the bosses of the pollster group scooped a £9million online payday loans no credit check in 2022.
Then-chief executive Stephan Shakespeare made £4.7million in the year to July, up from £540,000 previously.
Shakespeare, who co-founded YouGov with former Chancellor Nadhim Zahawi in 2000, stepped back from running the company on a day-to-day basis last August and is now chairman.
YouGov's shares are up 2.45 per cent to 1,173.04p in Monday morning trading.
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